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Coinbase lets users buy crypto with PayPal

Coinbase lets users buy crypto with PayPal

Coinbase customers in the US can now use their PayPal accounts to buy bitcoin and other cryptocurrencies.

As crypto becomes more mainstream, Coinbase hopes to attract Americans with a "familiar and trusted experience," says product manager Eddie Lo in a blog.

Customers select the crypto they want to buy, tap on the payment method then choose PayPal. They are taken to a PayPal login screen and select or add a linked debit card or bank account. Users can then make purchases of up to $25,000 a day.

The feature will be rolled out to other countries in the next few months.

Says Lo: "We’re looking forward to meeting you where you already spend, pay, send, and save, and enabling more options with brands you already use. Simplicity and ease of use are core tenets of Coinbase and we are committed to delivering on this promise."

For PayPal the move represents another step into the crypto world. In recent months it has started to let users buy, hold and sell cryptocurrency and has recently added the ability to pay at millions of online merchants around the world with the likes of bitcoin.

Separately, Coinbase has agreed to buy skew, an institutional data visualisation and analytics platform for crypto markets.

Coinbase says the acquisition will allow it to provide real-time actionable data analytics to institutions and traders.

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